# Presidential Allowance Modernization Act of 2023

This bill updates the financial benefits that former U.S. presidents and their surviving spouses receive after leaving office. The changes modernize payments that haven't been substantially updated in decades, while also adding income-based limits for wealthier former presidents.

**What former presidents would receive:** The bill sets a fixed annual payment of $200,000 for each former president, paid monthly for life starting the day after they leave office. This amount would automatically increase each year by the same percentage that Social Security benefits increase, ensuring the payment keeps pace with inflation. Additionally, former presidents can receive up to another $200,000 per year in a separate allowance to cover office expenses and staff, though this is subject to available funding. However, if a former president takes a paying job in the federal government, these payments stop while they hold that position.

**The income-based reduction:** Here's where it gets interesting for wealthier former presidents. If a former president's income exceeds $400,000 per year (adjusted annually for inflation), their $200,000 allowance gets reduced by the amount they're over that threshold. So a former president earning $500,000 annually would see their allowance cut by $100,000. The bill does include an exception: if the General Services Administration and Secret Service determine that security needs require additional funding, the former president can still receive money beyond this limit to cover those security-related costs.

**Changes for surviving spouses:** The bill increases the annual payment to surviving spouses of former presidents from $20,000 to $100,000, also adjusted annually for inflation. It also expands eligibility to include widowers, not just widows, ensuring equal treatment regardless of gender. These new rules apply only to future former presidents, not those already in retirement when the law takes effect.

Presidential Allowance Modernization Act of 2023

Ernst, Joni

Presidential Allowance Modernization Act of 2023 This bill replaces provisions governing the compensation provided to a former President. Each former President shall receive from the United States (1) an annuity of $200,000 per year for the remainder of his or her life, and (2) a monetary allowance of $200,000 per year. Such allowance shall be reduced by the amount the former President's earned income exceeds $400,000. These monetary amounts are subject to a cost-of-living increase. The bill increases and provides for cost-of-living adjustments to the monetary allowance for surviving spouses of former Presidents.